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Business: Its Legal, Ethical, and Global Environment

By Marianne M. Jennings

11th Edition © 2018
Discipline:Business Law
Course:Legal Environment of Business
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Emphasize real-world applications and encourage students to integrate the concepts and law and ethics into their business studies with the comprehensive and practical BUSINESS: ITS LEGAL, ETHICAL, AND GLOBAL ENVIRONMENT, 11E. Students learn to think analytically about legal and ethical issues. As students explore the intersection of law, business strategy, and ethics in the text, they apply the various concepts to more than 200 real-world situations and a wealth of pedagogical features. This approach heightens students’ own sense of morality and illustrates how law and ethics apply to issues in the workplace. BUSINESS: ITS LEGAL, ETHICAL, AND GLOBAL ENVIRONMENT, 11E meets all AACSB curricular and accrediting standards and is an excellent resource for future business managers. To complement this edition, MindTap is available online to help engage and prepare students for your course.

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About this product

Emphasize real-world applications and encourage students to integrate the concepts and law and ethics into their business studies with the comprehensive and practical BUSINESS: ITS LEGAL, ETHICAL, AND GLOBAL ENVIRONMENT, 11E. Students learn to think analytically about legal and ethical issues. As students explore the intersection of law, business strategy, and ethics in the text, they apply the various concepts to more than 200 real-world situations and a wealth of pedagogical features. This approach heightens students’ own sense of morality and illustrates how law and ethics apply to issues in the workplace. BUSINESS: ITS LEGAL, ETHICAL, AND GLOBAL ENVIRONMENT, 11E meets all AACSB curricular and accrediting standards and is an excellent resource for future business managers. To complement this edition, MindTap is available online to help engage and prepare students for your course.

MINDTAP® OFFERS STUDENTS AN ONLINE, HIGHLY PERSONALIZED LEARNING EXPERIENCE. Built on Cengage Learning content, MindTap® combines learning tools -- such as readings, multimedia, activities, and assessments -- into a singular learning path that guides students through the course. You can personalize the experience by customizing content and learning tools. MindTap® enables you to add your own content in the learning path with apps that integrate into the MindTap® framework seamlessly with your school’s learning management systems.

“CONSIDER…” FEATURES BUILD STUDENTS’ REASONING SKILLS. These creative features, which appear after every case, highlight key fact patterns students need to learn. Often taken from real court cases, the features help students evaluate and analyze the legal and ethical issues just discussed in the chapter, while accompanying Case Problems challenge students to think critically about the court’s decision.

EXCERPTED CASES OFFER THE MOST THOROUGH CASE TREATMENT AVAILABLE. Carefully selected, detailed case excerpts often provide both dissenting and concurring opinions. Each two- to four-page case includes a catchy, one-line synopsis of the legal and ethical issues presented, which helps students recall the case and its primary issues when needed in class and on the job.

CALLOUT STUDY FEATURES BRING LAW, ETHICS, AND BUSINESS TOGETHER. “Business Strategy Tip” margin notes, “Business Strategy” boxes, “From the Manager’s Desk” readings, and online exercises all offer insights into the strategic aspects of the law, and let students apply the legal and ethical principles they’re learning to real-life companies.

Table of contents

Chapters

Cover Page
Title Page
Copyright Page
Preface
About the Author
Acknowledgments
Part 1. Business: Its Legal, Ethical, and Judicial Environment
Part 2. Business: Its Regulatory Environment
Part 3. Business Sales, Contracts, and Competition
Part 4. Business Management and Governance
Appendix A. The United States Constitution
Appendix B. The Foreign Corrupt Practices Act (Excerpts)
Appendix C. The Uniform Commercial Code (Excerpts)
Appendix D. Dodd-Frank (Wall Street Reform and Consumer Financial Protection Act) Key Provisions
Appendix E. The Securities Act of 1933 and the Securities Exchange Act of 1934 (Excerpts)
Appendix F. Sarbanes-Oxley Key Provisions (Excerpts)
Appendix G. The Copyright Act (as Amended) (Excerpts)
Appendix H. Title VII and the Civil Rights Act (Employment Provisions) (Excerpts)
Appendix I. The Americans with Disabilities Act (Excerpts)
Table of Cases
Show more

Part 1. Business: Its Legal, Ethical, and Judicial Environment

Chapter 1. Introduction to Law
Preview this section ↗
1-1. Definition of Law ↗
1-2. Classifications of Law ↗
1-2a. Public versus Private Law ↗
1-2b. Criminal versus Civil Law ↗
1-2c. Substantive versus Procedural Law ↗
1-2d. Common versus Statutory Law ↗
1-2e. Law versus Equity ↗
1-3. Purposes of Law ↗
1-3a. Keeping Order ↗
1-3b. Influencing Conduct ↗
1-3c. Honoring Expectations ↗
1-3d. Promoting Equality ↗
1-3e. Law as the Great Compromiser ↗
1-4. Characteristics of Law ↗
1-4a. Flexibility ↗
1-4b. Consistency ↗
1-4c. Pervasiveness ↗
1-5. The Theory of Law: Jurisprudence ↗
1-5a. The Theory of Law: Positive Law ↗
1-5b. The Theory of Law: Natural Law ↗
1-5c. The Theory of Law: The Protection of Individuals and Relationships ↗
1-5d. The Theory of Law: The Social Contract ↗
1-6. Sources of Law ↗
1-6a. Constitutional Law ↗
1-6b. Statutory Law at the Federal Level ↗
1-6c. Statutory Law at the State Level ↗
1-6d. Local Laws of Cities, Counties, and Townships ↗
1-6e. Private Laws ↗
1-6f. Court Decisions ↗
1-7. Introduction to International Law ↗
1-7a. Custom ↗
1-7b. Treaties ↗
1-7c. Private Law in International Transactions ↗
1-7d. International Organizations ↗
1-7e. The Doctrines of International Law ↗
1-7f. Trade Law and Policies ↗
1-7g. Uniform International Laws ↗
1-7h. The European Union ↗
Biography. Uber: The Importance of Law in a Developing Business ↗
Summary ↗
Questions and Problems ↗
Economics, Ethics, & the Law: The Cost of Corporate Wrongdoing ↗
Chapter 2. Business Ethics and Social Responsibility
2-1. What Is Ethics?
2-1a. “It’s Just Not Right!”
2-1b. Normative Standards: How We Behave to Keep Order
2-1c. Line-Cutting and Ethics
2-2. What Is Business Ethics?
2-2a. Ethical Standards: Positive Law and Ethics
2-2b. Ethical Standards: Natural Law and Ethics
2-2c. Ethical Standards: Moral Relativism and Ethics
2-2d. Ethical Standards: Religion and Ethics
2-3. What Are the Categories of Ethical Dilemmas?
2-3a. Taking Things That Don’t Belong to You
2-3b. Saying Things You Know Are Not True
2-3c. Giving or Allowing False Impressions
2-3d. Buying Influence or Engaging in Conflict of Interest
2-3e. Hiding or Divulging Information
2-3f. Taking Unfair Advantage
2-3g. Committing Acts of Personal Decadence
2-3h. Perpetrating Interpersonal Abuse
2-3i. Permitting Organizational Abuse
2-3j. Violating Rules
2-3k. Condoning Unethical Actions
2-3l. Balancing Ethical Dilemmas
2-4. Resolution of Business Ethical Dilemmas
2-4a. Blanchard and Peale
2-4b. The Front-Page-of-the-Newspaper Test
2-4c. Laura Nash and Perspective
2-4d. The Wall Street Journal Model
2-4e. Other Models
2-5. Why We Fail to Reach Good Decisions in Ethical Dilemmas
2-5a. “Everybody Else Does It”
2-5b. “If We Don’t Do It, Someone Else Will”
2-5c. “That’s the Way It Has Always Been Done”
2-5d. “We’ll Wait until the Lawyers Tell Us It’s Wrong”
2-5e. “It Doesn’t Really Hurt Anyone”
2-5f. “The System Is Unfair”
2-5g. “I Was Just Following Orders”
2-5h. “You Think This Is Bad, You Should Have Seen …”
2-5i. “It’s a Gray Area”
2-6. Social Responsibility: Another Layer of Business Ethics
2-6a. Ethical Postures for Social Responsibility
2-7. Why Business Ethics?
2-7a. Personal Accountability and Comfort: Business Ethics for Personal Reasons
2-8. Importance of Ethics in Business Success and the Costs of Unethical Conduct
2-8a. Ethics as a Strategy
2-8b. The Value of a Good Reputation
2-8c. Leadership’s Role in Ethical Choices
2-9. Creation of an Ethical Culture in Business
2-9a. The Tone at the Top and an Ethical Culture
2-9b. Dodd-Frank, Sarbanes-Oxley, Sentencing, and an Ethical Culture
2-9c. Reporting Lines: An Anonymous Ethics Line for an Ethical Culture
2-9d. Developing an Ethics Stance
2-9e. Being Careful about Pressure and Signals
2-10. Ethical Issues in International Business
Biography. Chesley “Sully” Sullenberger: Preparation for the Moment When Something Goes Wrong
Preparation: The Formal Ethical Infrastructure
Summary
Questions and Problems
Economics, Ethics, & the Law: Self-Interest vs. Selfishness
Chapter 3. The Judicial System
3-1. Types of Courts
3-1a. Trial Courts
3-1b. Appellate Courts
3-2. How Courts Make Decisions
3-2a. The Process of Judicial Review
3-2b. The Doctrine of Stare Decisis
3-3. Parties in the Judicial System (Civil Cases)
3-3a. Plaintiffs
3-3b. Defendants
3-3c. Lawyers
3-3d. Judges
3-3e. Name Changes on Appeal
3-4. The Concept of Jurisdiction
3-5. Subject Matter Jurisdiction of Courts: The Authority Over Content
3-5a. The Federal Court System
3-5b. The State Court Systems
3-5c. Judicial Opinions
3-5d. Venue
3-6. In Personam Jurisdiction of Courts: The Authority Over Persons
3-6a. Ownership of Property Within the State
3-6b. Volunteer Jurisdiction
3-6c. Presence in the State
3-6d. Internet Companies and Long-Arm Jurisdiction
3-7. The International Courts
3-7a. Jurisdictional Issues in International Law
3-7b. Conflicts of Law in International Disputes
Biography. The Judges and Their Words
Summary
Questions and Problems
Ethics & the Law: The Dismissal of a Lawyer
Chapter 4. Managing Disputes: Alternative Dispute Resolution and Litigation Strategies
4-1. What Is Alternative Dispute Resolution?
4-2. Types of Alternative Dispute Resolution
4-2a. Arbitration
4-2b. Arbitration Procedures
4-2c. Mediation
4-2d. Medarb
4-2e. The Minitrial
4-2f. Rent-a-Judge
4-2g. Summary Jury Trials
4-2h. Early Neutral Evaluation
4-2i. Peer Review
4-3. Resolution of International Disputes
4-4. Litigation versus ADR: The Issues and Costs
4-4a. Speed and Cost
4-4b. Protection of Privacy
4-4c. Creative Remedies
4-4d. Judge and Jury Unknowns
4-4e. Absence of Technicalities
4-5. When You Are in Litigation
4-5a. How Does a Lawsuit Start?
4-5b. The Complaint (Petition)
4-5c. The Summons
4-5d. The Answer
4-5e. Seeking Timely Resolution of the Case
4-5f. How a Lawsuit Progresses: Discovery
4-5g. Resolution of a Lawsuit: The Trial
4-6. Issues in International Litigation
Biography. Games Workshop v Chapterhouse Studios: A Tabletop Gamers’ Battle with Jury Selection Help
Summary
Questions and Problems
Economics, Public Policy & the Law

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